Gold Rate in India — 1 October 2026: IBJA PM Rates, Intraday Move and Buyer Guide

Verified IBJA rates for 1 October

The India Bullion and Jewellers Association (IBJA) historical table shows the 1 October 2026 PM benchmark at ₹148,138 per 10 grams for 999 gold, ₹135,694 for 916 and ₹111,104 for 750. IBJA states that historical gold rates are quoted per 10 grams and are shown without 3% GST and making charges.

The per-gram numbers are simple conversions of the official 10-gram figures, not separate IBJA publications.

The PM rate eased from the morning

From AM to PM, 999 gold fell by ₹549 per 10g, 916 fell by ₹503, and 750 fell by ₹411. Each represents an intraday decline of roughly 0.37%.

That does not mean the day finished below the previous PM benchmark. Compared with 30 September PM, the 1 October PM rate was ₹250 higher for 999, ₹229 higher for 916, and ₹188 higher for 750 — about 0.17% in each category.

The two comparisons answer different questions: AM-to-PM describes the movement within 1 October, while PM-to-previous-PM shows where the official closing-style reference stood versus the previous publication day.

International gold edged higher, but headwinds remained

Reuters reported on 1 October that spot gold was up about 0.2% to $4,165.29 per ounce as softer U.S. inflation data reduced expectations for an October Federal Reserve rate increase. At the same time, a stronger dollar and high U.S. Treasury yields limited the advance.

That global move is useful context, not a direct formula for the Indian benchmark. Domestic gold also depends on currency conversion, local timing and market conditions. A change in international spot gold can therefore differ from the percentage move visible in an IBJA table.

Use the correct purity before comparing prices

The 999, 916 and 750 numbers are different fineness categories. For everyday jewellery comparison, 916 corresponds to 22K and 750 corresponds to 18K. BIS lists these as permitted hallmarking grades and explains that current hallmarked jewellery carries purity in both caratage and fineness.

Do not compare a 22K jewellery quote with a 999 bullion reference as if both contain the same amount of fine gold. First match the purity, then match the weight and timestamp.

The benchmark is not the final jewellery invoice

IBJA’s historical table explicitly excludes 3% GST and making charges. Jewellery can also include design costs, stone value, brand premium or other product-specific components.

CBIC’s jewellery-sector FAQ states that GST is payable at 3% of the total transaction value of jewellery, whether making charges are shown separately or not. As a result, a simple “gold rate × weight” calculation is only a starting metal reference.

Hallmark, HUID and invoice checks

BIS says a modern gold jewellery hallmark consists of the BIS logo, purity in caratage and fineness, and a six-digit alphanumeric HUID. The HUID is unique to the hallmarked item and can be checked through the BIS Care app’s Verify HUID feature.

Before purchase, make sure the purity on the jewellery, the invoice and the rate being applied all agree. If stones are present, ask for net gold weight separately from gross article weight.

A practical comparison sequence

1. Record the benchmark or shop rate with its exact date and time.
2. Match the item to 999, 916, 750 or its actual fineness.
3. Convert all quotes to the same unit.
4. Confirm net gold weight.
5. Add making/design and other billable components.
6. Check the final GST calculation.
7. Verify hallmark and HUID where applicable.

This process is more reliable than choosing a jeweller solely because the rate board shows a slightly lower headline number.